The Wings Club Foundation Inc
- Assets
- $6.8m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 6
- Location
- New York, NY
- Founding
- 03/1992
- Data as of
- 03/2022
- EIN
- 13-3648312
Organization Overview
The Wings Club Foundation Inc, operating under the name The Wings Club, is located in New York, NY. The organization was established in 1992. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 03/2022, Wings Club employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wings Club is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 03/2022, Wings Club generated $1.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.5% each year . All expenses for the organization totaled $1.3m during the year ending 03/2022. While expenses have increased by 15.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Wings Club has awarded 47 individual grants totaling $1,107,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO FOSTER EDUCATIONAL OPPORTUNITIES FOR STUDENTS PURSUING AN EDUCATION IN AVIATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONDUCTED THE ANNUAL AWARDS GALA, WHICH INCLUDED THE PRESENTATION OF THE ANNUAL DISTINGUISHED ACHIEVEMENT AWARD, PRESENTATION OF THE ANNUAL SCHOLARSHIP AWARDS AND PRESENTATION OF THE HUMANITARIAN AWARD.
AWARDED TWELVE STUDENT SCHOLARSHIPS.
PRESENTED MONTHLY AVIATION LEADER SERIES EDUCATIONAL LUNCHEON EVENTS. EACH LUNCHEON FEATURES A PRESENTATION BY AN AVIATION INDUSTRY LEADER. WINGS CLUB MEMBERS, GUESTS, AND COLLEGE STUDENTS ATTEND THE EVENTS. THE WINGS CLUB PRESENTED SEVEN OF THESE EVENTS DURING THE FISCAL YEAR.
THE WINGS CLUB FOUNDATION MAKES AN ANNUAL GRANT TO A CHARITABLE ORGANIZATION THAT USES AIRCRAFT TO PROVIDE MEDICAL SUPPLIES AND PERSONNEL AND OTHER HUMANITARIAN AID AND SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Fitzsimmons Executive Director | Officer | 40 | $334,995 |
John Brogan Secretary | OfficerTrustee | 3 | $0 |
Todd Kallman Treasurer | OfficerTrustee | 3 | $0 |
Abdol Moabery Vice President | OfficerTrustee | 3 | $0 |
Elise Eberwein President | OfficerTrustee | 3 | $0 |
Dawne Hickton Vice President | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $465,315 |
| Fundraising events | $1,137,577 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $99,398 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,702,290 |
| Total Program Service Revenue | $122,070 |
| Investment income | $134,129 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$325,441 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,633,048 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $187,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $364,097 |
| Compensation of current officers, directors, key employees. | $72,819 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $147,947 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $25,208 |
| Payroll taxes | $28,924 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,748 |
| Fees for services: Accounting | $16,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $36,212 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,030 |
| Office expenses | $71,382 |
| Information technology | $58,644 |
| Royalties | $0 |
| Occupancy | $119,353 |
| Travel | $1,237 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $32,888 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,584 |
| Insurance | $24,017 |
| All other expenses | $0 |
| Total functional expenses | $1,333,970 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,423,914 |
| Pledges and grants receivable | $214,068 |
| Accounts receivable, net | $180,138 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $91,811 |
| Net Land, buildings, and equipment | $32,809 |
| Investments—publicly traded securities | $4,844,484 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,787,224 |
| Accounts payable and accrued expenses | $67,801 |
| Grants payable | $45,541 |
| Deferred revenue | $271,831 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $385,173 |
| Net assets without donor restrictions | $4,213,913 |
| Net assets with donor restrictions | $2,188,138 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,787,224 |
Grants Awarded
Over the last fiscal year, The Wings Club Foundation Inc has awarded $187,000 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
East Elmhurst, NY PURPOSE: AVIATION SCHOLARSHIPS | $42,000 |
Daytona Beach, FL PURPOSE: AVIATION SCHOLARSHIPS | $40,000 |
Washington, DC PURPOSE: GENERAL SUPPORT | $25,000 |
Tuskegee Institute, AL PURPOSE: AVIATION SCHOLARSHIPS | $20,000 |
THE UNIVERSITY OF TEXAS AT AUSTIN PURPOSE: AVIATION SCHOLARSHIPS | $20,000 |
West Lafayette, IN PURPOSE: AVIATION SCHOLARSHIPS | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that The Wings Club Foundation Inc has recieved totaling $55,000.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $30,000 |
Sidley Austin Foundation Chicago, IL PURPOSE: GENERAL SUPPORT | $15,000 |
Triumph Group Charitable Foundation Berwyn, PA PURPOSE: GENERAL OPERATING | $10,000 |
Endowment Analysis
| Beg. Balance | $2,350,138 |
| Grants | $162,000 |
| Ending Balance | $2,188,138 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Joan And Irwin Jacobs Technion-Cornell Innovation Instit New York, NY | $205,040,861 | $18,316,542 |
Tikvah Fund New York, NY | $103,047,859 | $6,270,985 |
Cigna Foundation Philadelphia, PA | $165,016,072 | $8,084,237 |
Catholic Schools Foundation Inc Boston, MA | $110,171,239 | $27,305,892 |
Echoing Green Inc New York, NY | $60,744,468 | $19,754,073 |
Partnership For Ed Advancement Inc New York, NY | $36,194,552 | $41,198,488 |
Alavi Foundation New York, NY | $64,468,510 | $30,201,673 |
Children Scholarship Fund Philadelphia Philadelphia, PA | $24,817,690 | $13,351,193 |
Foundation For Jewish Day Schools Of Greater Philadelphia Philadelphia, PA | $5,671,351 | $11,978,701 |
Uncommon Lender Inc New York, NY | $174,239,408 | $12,168,791 |
Family Enrichment Network Inc Johnson City, NY | $8,020,609 | $12,621,621 |
Laspau Inc Cambridge, MA | $9,172,350 | $9,862,515 |